Showing Property
I had the opportunity to show some new clients a house in Greater Napanee last week. The house is vacant so setting up an appointment was no problem, and I had them in within a couple of hours.
The house itself needs a ton of work, especially on the inside as the previous owner severely neglected and even mistreated the home. There were holes punched into the drywall on the main level and the deck needed some major repairs, but the basement is where the big problem lies. It is evident that there was some sort of water problem in parts of the basement. Whether there was a minor leak that went unnoticed for a while, or if a pipe burst there is definitely signs that there was a big problem. It seems that the problem had been addressed though as the drywall was cut half way up the wall and insulation was removed. One other issue we noticed was that the well is on a trickle system which indicates that the well is probably not giving a very good gallons per minute. Trickle systems work really well though and it didn't seem to bother my clients as they have experience with them.
My clients are a retired couple and they do seem very interested in the house, as the price range works for them and the husband seems to be up to the challenge of the extensive renovations that are needed. The trick is getting the right price as the house itself probably needs about $30-40 thousand worth of work. All said and done though the house would be really nice and the value would definitely be there when it is time to resell. I wouldn't be at all surprised to see a house flipper scoop the place up at a bargain and renovate.
It looks like I will know more tomorrow on whether or not my clients want to move forward with an offer. It may prove to be a difficult transaction as there are many issues that need attention.
The house itself needs a ton of work, especially on the inside as the previous owner severely neglected and even mistreated the home. There were holes punched into the drywall on the main level and the deck needed some major repairs, but the basement is where the big problem lies. It is evident that there was some sort of water problem in parts of the basement. Whether there was a minor leak that went unnoticed for a while, or if a pipe burst there is definitely signs that there was a big problem. It seems that the problem had been addressed though as the drywall was cut half way up the wall and insulation was removed. One other issue we noticed was that the well is on a trickle system which indicates that the well is probably not giving a very good gallons per minute. Trickle systems work really well though and it didn't seem to bother my clients as they have experience with them.
My clients are a retired couple and they do seem very interested in the house, as the price range works for them and the husband seems to be up to the challenge of the extensive renovations that are needed. The trick is getting the right price as the house itself probably needs about $30-40 thousand worth of work. All said and done though the house would be really nice and the value would definitely be there when it is time to resell. I wouldn't be at all surprised to see a house flipper scoop the place up at a bargain and renovate.
It looks like I will know more tomorrow on whether or not my clients want to move forward with an offer. It may prove to be a difficult transaction as there are many issues that need attention.



